China Smartphone Tracker (June): Lower yet still some inventory risk

Research evidence excerpt

China Smartphone Tracker (June): Lower yet still some inventory risk

4 August 2026

Global Semiconductors & Hardware

China Smartphone Tracker (June): Lower yet still some inventory

risk

Please download our smartphone monthly tracker data from here. Mark Li

+852 2123 2645

mark.li@bernsteinsg.com Sell-through rebounded 62% MoM thanks to the “618” promotions. In June, China

smartphone sell-through reached 28M units, up 62% MoM and 3% YoY, making 6M26

Stacy A. Rasgon, Ph.D. cumulative shipment fall by 7%. Memory price made low-tier shipment fall 14% in June, but

+1 213 559 5917 mid- & high-tier segments combined managed to grow c. 10% YoY thanks to promotions

stacy.rasgon@bernsteinsg.com

of Huawei & other Android brands. The contribution from entry-level models in the overall

shipment mix stayed at a record low in June. Mark C. Newman

+1 212 845 7822

mark.newman@bernsteinsg.com Apple still expanded unit share YoY, but not as much as in May as others also had

promotions. Discounts on iPhone 17 Pro drove a rapid share gain in May. That likely pulled

Alex Wang, CFA some demand forward & in June rivals had promotions in RMB 3-5K price band too. Apple

+852 2123 2613

alex.wang@bernsteinsg.com thus saw its share narrowed MoM. Huawei’s premium shipment was flat MoM, suggesting the

higher SoC costs from SMIC’s “N+3” node limits Huawei’s ability to compete on price.

Eunice Lee, CFA

+852 2123 2606 Destocking efforts by Android brands brought inventory lower yet still elevated.

eunice.lee@bernsteinsg.com Chinese OEMs increased promotions in the RMB3-5K price segment, likely to digest

inventory ahead of September product launches. Sell-in was thus lower than sell-through,

Aleksander Peterc reducing inventory from 3.9 months in May to 3.2 sequentially but still above normal levels.